The energy discovery in the Black Sea is critical for Turkey’s current-account balance which is dragged down by the need to import nearly all of the 50 billion cubic meters of gas the country consumes annually. SourceContinue Reading

Every year, the Latin American nation locks in the price of its oil exports by buying put options from Wall Street banks. The deal typically roils the market, creating violent swings in the price of oil options. SourceContinue Reading

The ReLineWL straddle is a one-trip, rigless system developed to address common well integrity issues and has enabled a Gulf of Mexico operator to troubleshoot an inoperable safety valve, passing through a restriction that conventional straddles could not pass through. SourceContinue Reading

Digital Well Operations is the industry’s first open and integrated well operations software that seamlessly connects the entire value chain – operators, service providers, logistics providers and rig providers – to deliver more efficient and safe wells. SourceContinue Reading

OPEC expects world oil demand will return to pre-crisis levels in 2022, by which time the group will need to provide 34.3 million barrels a day, or about 1.4 million more than previously projected. The 13-member cartel controls about a third of global supplies. SourceContinue Reading

The world’s biggest producer of wind and solar power has now surpassed the oil majors, leading a spectacular rally in power stocks as much of the world shuns fossil fuels to fight climate change. SourceContinue Reading

Equinor’s Johan Sverdrup offshore platform will have to close production until further notice if an ongoing labor strike continues into next week, the Norwegian supermajor said in a statement. SourceContinue Reading

The expansion of the Fleet LTE service means customers in both the North Sea and Gulf of Mexico can access high speed 4G, Fleet Xpress maritime VSAT Ka-band and continuous L-band connectivity within a single, fully managed hybrid package. SourceContinue Reading

Leading controls technology company Proserv Controls has penned a strategic alliance with power system monitoring leader Synaptec to develop a cutting-edge integrated holistic cable monitoring system, which will reduce downtime, improve safety and lower operating costs at offshore wind farms. SourceContinue Reading

Only seven out of 59 companies studied — Royal Dutch Shell Plc, Repsol SA, Total SE, Eni SpA, Glencore Plc, Anglo American Plc and Equinor ASA — have set emissions reduction targets in line with pledges made in the Paris Agreement, according to a report by the Transition Pathway Initiative. SourceContinue Reading